Where Is OPEC+? Riyadh and Moscow’s Silence Is Becoming Deafening
“The roar of the engines does not herald true dominance, but the absolute silence that precedes the strike." “Let your plans be dark and impenetrable as night, and when you move, fall like a thunderbolt." The last decades of silence from the world’s leading oil group, OPEC, or its derivative, OPEC+,
Source: OilPrice.com
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DW NOTE
OPEC+ has said nothing while WTI trades at $92 and the Strait of Hormuz remains closed to commercial traffic for the sixth consecutive month. The cartel exists to manage supply and signal price floors; it is currently doing neither. Riyadh and Moscow's silence suggests either internal fracture or a calculated bet that $90 oil with 5.7 million barrels per day offline is high enough — a position that makes sense only if you believe the demand destruction from a 3.75% Fed funds rate will accelerate.